UK 30-Year Gilt Yield Falls 12bps After BoE Holds Rates at 3.75%

The outsized move at the very long end, with the 50-year falling further than the 30-year and both far outpacing the 2-year, points to a curve reaction rather than a simple repricing of near-term policy. That pattern suggests the hold was read as reducing the risk of extended tightening, which matters most for duration-sensitive holders of long gilts. Whether the long end keeps this bid, or gives it back once the immediate decision passes, is the open question.